Question
As a startup operating on seed-level funds we are often surprised by VCs who ask us about our IP protection. We are developing a technology that would be deployed internationally, so of course investors ask us how well we can protect it on a global level. But, if a patent in US+Canada alone already costs thousands of dollars to obtain, how can we manage international protection without going through a big funding round first? Seems like a chicken-and-egg sort of problem. I guess this is hardly a new problem so I would really appreciate your input and experience on what would be the best strategy for this! Thanks, Laura.
Answers: 4 public & 1 private
Laura, what you say is very common as for a VC having global IP protection means both increasing the value of the start-up and securing the business operations - often with a view at exit. I echo what the other say - seek for expert advice as this is the most important investment you will be doing right now. As for international protection, once filed a first application (eg: US), you can wait 12 months and then file a PCT application. The PCT is relatively low cost (about $4K) and will allow you to secure the rights to seek for international protection in 18 months from the filing of the PCT whilst maintaining costs relatively low. As I said, any competent patent attorney should be able to assist you with this. Hope this helps.
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